11 March 2023
A Resident assessee opened a saving account in Singapore(Currency US$). and tfd funds from India. Then he purchased share in New York Stock Exchange. On selling those shares he earned STCG of USD 2000 and LTCG of USD 3500.
Now I have 2 questions :- (1) what will be the taxability of these gains in India ?? (2) Can he send the sale proceed from selling the shares to his son residing in Australia as Gift ??
CAclubindia
